Itau Unibanco Holding SA (NYSE:ITUB) was the target of a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 18,370,100 shares, an increase of 36.1% from the June 30th total of 13,497,900 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average trading volume of 18,420,000 shares, the days-to-cover ratio is presently 1.0 days.
Several hedge funds have recently modified their holdings of ITUB. Comerica Securities Inc. grew its position in shares of Itau Unibanco by 62.7% in the 4th quarter. Comerica Securities Inc. now owns 17,643 shares of the bank’s stock worth $161,000 after buying an additional 6,798 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Itau Unibanco by 27.7% in the 4th quarter. Bank of New York Mellon Corp now owns 136,947 shares of the bank’s stock worth $1,252,000 after buying an additional 29,680 shares during the last quarter. Two Sigma Advisers LP bought a new stake in shares of Itau Unibanco in the 4th quarter worth approximately $401,000. Deprince Race & Zollo Inc. grew its position in shares of Itau Unibanco by 12.9% in the 1st quarter. Deprince Race & Zollo Inc. now owns 926,680 shares of the bank’s stock worth $8,164,000 after buying an additional 105,700 shares during the last quarter. Finally, Eqis Capital Management Inc. grew its position in shares of Itau Unibanco by 6.5% in the 1st quarter. Eqis Capital Management Inc. now owns 147,703 shares of the bank’s stock worth $1,301,000 after buying an additional 9,051 shares during the last quarter. Hedge funds and other institutional investors own 4.55% of the company’s stock.
ITUB has been the topic of several recent research reports. ValuEngine lowered Itau Unibanco from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Zacks Investment Research upgraded Itau Unibanco from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. Morgan Stanley upgraded Itau Unibanco from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $9.50 to $13.50 in a research report on Wednesday, August 7th. HSBC upgraded Itau Unibanco from a “reduce” rating to a “hold” rating in a research report on Friday, May 17th. Finally, JPMorgan Chase & Co. upgraded Itau Unibanco from a “neutral” rating to an “overweight” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Itau Unibanco has a consensus rating of “Hold” and a consensus price target of $12.75.
Shares of ITUB stock traded down $0.42 during trading hours on Monday, reaching $8.85. The company’s stock had a trading volume of 18,272,777 shares, compared to its average volume of 18,942,320. The company has a market capitalization of $90.83 billion, a PE ratio of 13.21, a P/E/G ratio of 1.17 and a beta of 0.93. Itau Unibanco has a one year low of $6.57 and a one year high of $10.80. The business’s fifty day moving average is $9.48. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.73 and a quick ratio of 1.73.
The firm also recently disclosed a None dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th will be given a $0.21 dividend. This is a positive change from Itau Unibanco’s previous None dividend of $0.00. The ex-dividend date of this dividend is Friday, August 16th. Itau Unibanco’s dividend payout ratio (DPR) is currently 7.46%.
Itau Unibanco Company Profile
Itaú Unibanco Holding SA provides a range of financial products and services to individuals and corporate clients in Brazil and internationally. The company operates in three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It accepts demand, savings, and time deposits; and offers payroll, mortgage, personal, vehicle, and corporate loans, as well as very small, small, and middle market loans.
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